KUALA LUMPUR - Malaysia will see a significant boost to its tax revenue levels, due to the government’s efforts to stamp out illicit capital outflows. At a press conference held on December 21st in Kuala Lampur, the Prime Minister of Malaysia Najib Razak stated that the Inland Revenue Board expects to collect approximately MYR 98 billion in tax revenues this year. The new projection is approximately MYR 7 billion higher than forecasted by the government earlier in the year. If the expectations are ... Read More

The Malaysian Government has once again delayed replacing the country’s current sales tax with a new Goods and Service Tax system, which could have raised a reported MYR 8.8 billion (approx. USD 2.84 billion) annually. On October 13th the Malaysian Government issued a statement saying that it has decided to indefinitely delay the implementation of its controversial Goods and Services Tax (GST). The tax was originally mooted in 2007, and was aimed at lessening the country’s heavily reliance on revenues drawn from the ... Read More